D.A. Davidson & CO. Boosts Position in Abbott Laboratories (NYSE:ABT)

D.A. Davidson & CO. raised its holdings in Abbott Laboratories (NYSE:ABTFree Report) by 0.6% in the third quarter, Holdings Channel reports. The fund owned 168,073 shares of the healthcare product maker’s stock after buying an additional 970 shares during the period. D.A. Davidson & CO.’s holdings in Abbott Laboratories were worth $16,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC boosted its position in shares of Abbott Laboratories by 104,649.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 30,247,436 shares of the healthcare product maker’s stock worth $3,320,866,000 after purchasing an additional 30,218,560 shares during the period. Norges Bank acquired a new position in Abbott Laboratories during the 4th quarter worth $1,893,715,000. Morgan Stanley raised its position in Abbott Laboratories by 14.3% in the 4th quarter. Morgan Stanley now owns 38,966,499 shares of the healthcare product maker’s stock valued at $4,278,132,000 after purchasing an additional 4,886,954 shares in the last quarter. Bank of Montreal Can purchased a new position in Abbott Laboratories in the second quarter worth approximately $368,418,000. Finally, Capital International Investors grew its stake in shares of Abbott Laboratories by 4.9% during the second quarter. Capital International Investors now owns 59,178,607 shares of the healthcare product maker’s stock worth $6,451,127,000 after purchasing an additional 2,747,652 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 15,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $108.00, for a total transaction of $1,620,000.00. Following the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,022,916. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $111.83 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.23 and a current ratio of 1.74. Abbott Laboratories has a fifty-two week low of $89.67 and a fifty-two week high of $115.83. The stock has a fifty day moving average of $109.89 and a two-hundred day moving average of $103.93. The company has a market capitalization of $194.14 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.70 and a beta of 0.75.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.84%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. On average, analysts anticipate that Abbott Laboratories will post 4.62 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.55 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, January 11th. This represents a $2.20 annualized dividend and a dividend yield of 1.97%. Abbott Laboratories’s payout ratio is presently 67.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ABT shares. Morgan Stanley lowered their price objective on Abbott Laboratories from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Thursday, October 19th. Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $116.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $128.00 price objective on shares of Abbott Laboratories in a report on Thursday, January 25th. Raymond James lifted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.00.

Check Out Our Latest Stock Analysis on Abbott Laboratories

Abbott Laboratories Profile

(Free Report)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

See Also

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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